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Whether you sell products or services, it's no secret that consumers today demand a more personalized experience when they buy. The results of a recent study show you a new way to analyze how your customers think and why they make purchases.
Conducted by Yankelovich Partners Inc. from 1997 to 2000, the Monitor MindBase study segments customers into categories, including age, lifestyle and priorities, that marketers can apply to their customer databases to learn more about purchasing habits and preferences.
These new customer categories run the gamut, from "New Visionaries" (competitive consumers who view themselves as innovative) to "Heartwarmers" (family-oriented consumers who work toward long-term goals).
"Customers receive more than 3,000 advertising messages per day," says Doug Haley, chief knowledge officer at Yankelovich. "They've become [very] good at screening irrelevant messages. By knowing something about their core values, you can dramatically increase your ability to tailor your messages to be more appropriate."
Through a Web-based marketing ASP called DecisionDomain, you can use the MindBase tool with your existing database to define the makeup of your customer base. If you don't have a database, but just a list of customers, you can work with a third-party information provider (such as Axiom or Experian) directly or through the ASP to build a profile, which makes the tool more accessible.
Haley says it costs between $5,000 and $15,000 to access the service and approximately $60 per thousand names profiled. If information from a third-party provider is needed, expect to pay an additional $50 or more per thousand names, depending on the depth of the profile. You can find additional information about the ASP and the MindBase tool at www.yankelovich.com.
For a complete list of the consumer categories, click on "Marketing Smarts".
Gwen Moran is president of Moran Marketing Associates and founder of BoostYourBiz.com, a marketing information resource for small businesses. E-mail her at email@example.com.
- Yankelovich Partners, www.yankelovich.com
In which categories do your customers fall?
Based on the findings from its recent MONITOR MindBase study, which lasted from 1997 to 2000, Yankelovich Partners Inc. has compiled an extensive database of American consumer categories designed to help entrepreneurs analyze how their customers think and why they buy. Broken down into eight Core Value Groups and 32 subgroups, the study offers new insight into the diversity of today's American consumers. Following is a complete list of the categories:
Up & Comers (16 percent): Ambitious, upbeat Gen X nonparents who tend to be self-focused and interested in fun and adventure. They're trendy and fashion-conscious, extremely active, concerned about health and staying in shape, and are extremely enthusiastic about technology. They describe themselves as creative, intelligent, self-confident and funny.
to be a little older and more established than younger
New Visionaries-Focused on getting ahead. They're innovative, daring and competitive.
Nouveau Nesters-Live for today and don't worry about the future.
Wired Ones-Mostly young, active single males with an affinity for technology.
Young Materialists (8 percent): Aggressive, confident Gen X nonparents striving for material success. They're not concerned about living within their financial means but find more value in money and success. However, they feel success is obtained by "beating the system" rather than by hard work. Style is important as a status symbol and a measure of their success, but they're unconcerned with personal health. They describe themselves as funny, adventurous and attractive.
Forward-Students aspiring for the good life. Obsessed
with style and status.
Rhythm and Youth-Just trying to make ends meet. They're stressed and overloaded with information. Not planning for the future.
Unplugged-Mostly males who want the better things in life, but haven't planned how to achieve them yet.
Stressed by Life (12 percent): Young, single moms who are family-oriented, but who need an escape from their overloaded lives. They describe themselves as worrywarts and have a strong need to focus on their own spiritual and personal health. They believe in the power of technology but are cynical about what progress it may bring.
Reality-Just getting by, these single moms try to do the
best they can for their families. They live in ethnically diverse
Pragmatic Idealists-While balancing child care and personal needs, they still look for fun and excitement.
Rainbow Seekers-Despite limited resources, they feel optimistic and strive to improve themselves and build a better life.
New Traditionalists (14 percent): Conservative, upscale, married boomer parents concerned about self-development, maintaining health, managing time and creating a positive environment for their children. They're open-minded, well-educated and ambitious, but not interested in acquiring material possessions. Success, to them, comes from a good marriage and pride in their children. They're very involved in their financial management and would like to reduce some debt and live within their means.
Moms-Juggle many tasks and activities. Despite planning,
often have to improvise.
Players-Active and involved, they accomplish a lot with relatively little stress.
All-Americans-In control of their lives, these slightly older families are successfully accomplishing their active family goals.
Balanced Breadwinners-Family-focused, but sacrifice some personal opportunities for the rest of the family.
Band Leaders-Value-focused young families with many activities out of the home.
Family Limited (14 percent): Ethnically diverse, blue-collar boomer parents exclusively focused on family. They're not involved in their communities and aren't socially concerned or open to new ideas. They aren't interested in self-exploration or social relationships with friends and are very concerned about their financial well-being, although they don't enjoy managing their money. They have little need for new technology and are unconcerned about personal health.
Families-Younger families that put family first.
Somewhat overextended financially.
Mainstreamers-So focused on the family that they have no real interest in or connection to the outside world.
Ships in the Harbor-Generally happy and content with their families, but cautious in their world views.
Homebodies-They hide behind the family, using them as a retreat from the harsh world.
Detached Introverts (9 percent): Single (many divorced) boomers who isolate themselves either by choice or technology. They spend most of their time at work and a lot of time surfing the Net. They do not consider themselves family- or community-oriented and have little interest in those around them. Unconcerned about their personal health, they experience little stress and don't feel the need for more pleasure in their lives.
well-educated, they appear somewhat aimless and drift along
Live Wires-Unsociable and success-driven with few outside interests.
Internet Introverts-Inactive, middle-aged men with low self-images despite higher incomes.
Loners-Wish for the finer things in life, yet are averse to technology. Suspicious and have constrained resources. Preservationists-Focused on financial success and money management. Conservative planners.
Renaissance Elders (11 percent): Family- and community-oriented older individuals with a generally positive outlook on life. Most are empty nesters concerned about future health, managing their money and planning for the future. They're financially comfortable, as many have started their own businesses and had good incomes. They try to live within their means and view themselves as practical and responsible.
Seniors-Continue to be vital and involved in their
communities, but home and family come first.
Prime Timers-Reaping the benefits of a well-managed life. Highly successful, older households.
Self-discovering Nesters-Still involved in adventurous activities and personal growth.
Retired from Life (16 percent): Older adults, many empty nesters, who are relatively removed from modern life. They see themselves as old-fashioned and neighborly and have little need for novelty, adventure, style or material goods.
Retireds-Well-educated, active, involved households
capable of managing their retirement well.
Carefree Traditionals-Spiritual and conservative. Home- and family-focused to the exclusion of all else. Distrustful of the outside world.
Comfortable Twilighters-Comfortable and secure empty nesters that stay connected with the world. Upholders of traditional values.
Complacent Seniors-Skeptical of modern innovations and overwhelmed by information. Overburdened by the world.
Rooted-Conservative and home-focused. Stay connected to the world by reading the news.
- Yankelovich Partners, www.yankelovich.com